New Candidates for the Euro Area? Similarity of Supply and Demand Shocks in the Non-Euro Area Countries

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F15%3A86094830" target="_blank" >RIV/61989100:27510/15:86094830 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
New Candidates for the Euro Area? Similarity of Supply and Demand Shocks in the Non-Euro Area Countries
Original language description
There are still countries of the European Union which are not in the Euro Area. There are nine countries in 2015. The purpose of this contribution is to find out, if there is any good candidate for a membership in the Euro Area. For this purpose we use structural vector autoregression model. We assume that supply shock has a permanent effect on output and demand shock has only a temporary effect on output. Moreover, both have a permanent effect of price level. The similarities of supply and demand shocks are compared in relation to the Euro Area as a whole and in relation to Germany. The analysed period is from the first quarter 1999 to the fourth quarter 2014. We find that according to the results we can claim that the best candidates are the United Kingdom, Croatia and Bulgaria for a membership in the Euro Area from analysed countries. Romania and Denmark have good results only either in the case of demand shocks (Romania) or in the case of supply shocks (Demark). The results in the
Czech name
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Czech description
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Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 13th International Conference "ECONOMIC POLICY IN THE EUROPEAN UNION MEMBER COUNTRIES"
ISBN
978-80-248-3796-3
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
266-274
Publisher name
Vysoká škola báňská - Technická univerzita Ostrava
Place of publication
Ostrava
Event location
Ostrava
Event date
Sep 2, 2015
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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